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NSFX Review

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About it

NSFX was founded in 2012 in Malta. It is regulated by The Malta Financial Services Authority (MFSA), the Financial Conduct Authority (FCA) in the UK and BaFin in Germany. It also falls under the Market in Financial Investment Directive (MiFID), which is intended to provide harmonized regulation for investment services across the 31 member states of the European Economic Area.

The website is available in English, French, German, Italian and Arabic markets but it looks old. NSFX offers the average range of financial instruments to trade, including  50 Forex pairs, indices, CFDs, gold, silver, oil, commodities.

Review Overview

Compliance to Different Authorities
Speed and Ease of Procedures
Platform Execution
Technology and Facilities
Client Support and Offers

Good

Good product and support. Still, the company is still small and new.

How does it help me learn?

NSFX offers a very comprehensive and rich education for traders both new and experienced. It gives access to a good set of material including the following:

  • Demo Account – NSFX offers a $10,000 demo accounts to practice and get familiar with the company’s trading conditions. The company’s account managers are available in case of any clarification or need for assistance.
  • Forex Articles – They are a basic introduction to Forex trading as well as a detailed glossary. These are intended for beginners.
  • Videos Tutorials – They are available to all visitors of the website, and they are very good. They cover a range of topics including trading psychology, capital management, ECN trading, advanced technical analysis and MetaTrader tutorials.
  • Fundamental and Technical Analysis – NSFX offers daily technical and fundamental analysis reports as well as a weekly forecast.
  • 1-on-1 Training – This service requires registration but it’s free. The 1-on-1 Training gives clients the chance to talk to an expert on a range of pre-defined topics related to economic and technical trading. Clients can also request a specific custom plan to suit their needs.
  • Forex Course – NSFX developed its’ own step by step online Forex training course which is in video format. Registration to this course is also free and it covers subjects that include Forex basics, terms, types of orders and strategies.
  • Trading Central – An award winning online service and an excellent tool to service clients and assist them in their trading. Trading Central provides real-time trading signals as well as technical and market analysis, forecasting, risk management and a news feed all delivered directly to the client’s MT4 platform.

How is the client support service in general?

Client support is offered in a number of ways; email addresses, live chat and via telephone.
There are also country specific telephone numbers for each of the company’s offices offering assistance in 6 languages. Help is available 24/7.

What does the industry say?

NSFX didn’t win any industry awards which is surprising given its prodict and the positive reviews the company received from clients, not to mention the reliability of the platform and NSFX‘s client support. Lack of awards is probably down to its’ size and recent arrival to the trading scene.

How safe is my money?

NSFX is regulated in Malta by the Malta Financial Services Authority (MFSA), the UK’s Financial Conduct Authority (FCA) and it is also governed by the EU regulation as a result of complying to the MiFID. NSFX obtains liquidity from Tier-1 providers and it keeps clients funds separate from the company’s.

What platforms does NSFX offer?

NSFX offers two platforms; the MetaTrader4 and NSFX Pro. Both of them are available for ECN trading. Metatrader4 is available in all versions, web, desktop, mobile, IOS, Android and tablets. The company’s own platform, the NSFX Pro, is based on MT4 but has more features, for example, the platform allows for custom made strategies and actual code programming via the Visual Strategy Builder and Optimizer. Other built-in capabilities include over 180 technical indicators, live news stream, economic calendar and an integrated analysis tools. NSFX Pro also includes additional cross-connected platforms such as the PAMM accounts for money managers, hedge funds and financial advisers. The platform can be accessed via various devices including web, desktop, IOS, Android mobile phones and tablets. Traders comments suggest that NSFX Pro is reliable and the platform’s features are functional.

What about its trading conditions?

Leverage is up to 1:200 on MT4 and 1:100 for ECN trading, which will translate to a margin requirement of 0.5% and 1% respectively. NSFX set its’ margin call at 100% of the used margin, which NSFX calls Warning Threshold level. The stop out point is at 20% of the used margin.
The company states on its website that in exceptional circumstances such as fast moving market or low liquidity, trades are subject to an increase in normal spreads. NSFX also states that trades will be automatically priced and executed by NSFX’s trading systems, however, depending on factors such as unusual market conditions or the size and nature or the clients’ order, the financial instrument may be manually priced and the trade may be manually executed, which indicates the possibility for slippage. Finally, the website mentions that during times of high manual pricing and execution, delays in processing clients’ orders may cause the price the clients’ order is executed at to differ from to one requested in the order, which will lead to re-quotes regardless the fact that the company adopts the one click method in filling trading orders. In spite of that, clients has reported being comfortable committing trades with the company on a retail and institutional level. NSFX allows use of Expert Advisors on the Metatrader platform.

How much will it cost me?

NSFX operates fixed spreads on regular MT4 platforms and variable spreads on MT4 ECN platform. Fixed spread is 3 pips on majors and on ECN trading, the minimum spread starts from 0.9 up to 2.8 pips. NSFX doesn’t require a minimum deposit to open an account. Free registration grants clients free access to all its training and trading tools.
NSFX doesn’t offer Islamic Sharia compliant accounts. Swap is dealt with as an adjustment to the entry price instead of the addition or subtraction of interest from the account. The company accepts funds from wire transfers, credit cards and electronic wallets. Withdrawal requests are made via the trader’s dashboard MyNSFX and are processed the same working day.

Any special deals?

NSFX continuously offer promotions or competitions. Although they look attractive but details about competitions or offer mentioned on the website are not clear and they relate to old promotions. The current one is 15% bonus on the first deposit or a free iPad after opening and account and depositing $5,000, but again there’s no information on how to qualify to those promotions and competitions. .

The bottom line

NSFX managed to satisfy clients since its’ inception with good technology and quality client support. It seems that NSFX has developed a set-up that is comfortable for traders as it has a solution for all experience levels and type of trader. Costs are acceptable and client support is as good as the company promises. The geographical market coverage NSFX is still on a small scale, as it is relatively new, however, the company is already among the successful brokering companies. The fact that NSFX listed all of the it’s offices telephone numbers proves the company’s transparency. Furthermore, the website lists directors and managers’ names and photos, which adds to the company’s credibility.

Do you like this broker?

If you like this broker and want to open a live account, send us a request by filling the form below and we will reimburse you the full rebate generated from your trading.

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About Razi Hammoudeh

Razi’s professional experience was gained over the course of more than a decade working with leading Forex market makers in the Middle East, Asia and Europe where he learned about trading, financial instruments and global markets. Being exposed to the wide range of skills he acquired along the years, he continued to develop his trading strategies and further improving his track record in Forex trading. He used innovative business development strategies to find FXLORDS, helping it to rapidly become a major provider of education and trading tools to the successful trader. He is an enthusiastic individual, motivated by challenge and renowned for pushing the limits, always looking to gain some more experience and help as much as possible along the way.

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